These Are This Week’s Top Gainers as Bitcoin Price Stalls at $42K (Weekend Watch)

1 year ago 6

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Bitcoin tried its hand at taking down $43,000 on Saturday but was stopped before an actual challenge and has returned to its starting point of around $42,000.

Most altcoins are slightly in the red on a daily scale, aside from Shiba Inu and Internet Computer, both of which have tapped notable gains.

BTC Back to $42K

After its 19-month peak last Saturday, bitcoin started retracing slowly on Sunday before a massive drop of three grand registered on Monday. That one drove it to just under $41,000. A day later, the primary digital asset dumped again, this time to a weekly low of $40,200.

The bulls finally managed to reverse the cryptocurrency’s trajectory and pushed it north to $43,000. Even the US CPI data couldn’t propel more volatility on Wednesday, but the Ledger vulnerabilities on Thursday did.

In a matter of minutes, BTC slumped by nearly two grand but quickly recovered most of its losses when the wallet company announced the fix to its issues.

On Friday and Saturday, bitcoin went to a local peak of $42,750 but couldn’t go any higher. As of now, it stands inches below $42,000, and its market cap has slipped below $820 billion. Its dominance over the alts has increased slightly to 51.7% on CMC.

BONK, ICP Are the Weekly Winners

The past week went mostly under the influence of the latest meme coin sensation – the Solana-based BONK. It shot up at one point by over 100% daily and more than 1,200% weekly to register a new all-time high. It also boosted SOL’s price higher, but the asset has retraced during the weekend and is now trading at just over $70.

The other massive gainer lately has been ICP. It’s up by 15% over the past 24 hours and more than 80% on a weekly scale. As a result, ICP now trades above $10.

Shiba Inu has jumped by 9% within the past 24 hours. The rest of the larger-cap alts sit in the red, with ETH losing 1.5%, BNB down by 2.5%, Cardano has plummeted by over 3%, and so has Chainlink.

The total crypto market cap is down by $20 billion since yesterday to $1.580 trillion.